Published: Thursday, March 7, 2013 at 6:49 p.m.

Last Modified: Thursday, March 7, 2013 at 6:49 p.m.

And at $187.50 per night, the price is less than that of a typical luxury hotel.

The only catch: You'll have to find 23 others willing to bunk with you — each paying their own $187.50.

That's because the rental cost is $4,500 a night, with a minimum stay of seven nights.

Promoter HomeAway promises that the 12,000-square-foot mansion, hidden behind gates at the end of a narrow street on Sarasota's north bayshore, is worth every penny of that $31,500 per week.

HomeAway's website says the house sleeps as many as 24, thanks to its nine bedrooms, eight full bathrooms — one outdoors — and two half-bathrooms.

On the website, the owners explain that while the Indian Beach house is their main residence, they want to share it with others who will appreciate it.

“It was built from the ground-up specifically for us to reunite our big family and friends, who are very special to us,” the site says. “Living here is living with your feet in the water in the most beautiful ‘mini' private resort.”

Mansion owners Innocenzo and Anne Gagliardi did not respond to requests to discuss their rent-a-manse.

Though the Gagliardis are not the only luxury home owners in Southwest Florida to offer their mansions for rent, their home raises the proverbial bar for those hoping to experience an opulence available to but a few — if even for a limited time.

Out-of-towners needn't worry about rounding up taxis to get to the mansion from the airport, either, thanks to the house's rooftop helicopter pad.

The modernist house is close enough to downtown to ride a bike to, and but a 10-minute drive to St. Armands Circle and Lido Beach.

But why leave? The grounds offer kayaking, fishing, a hot tub and swimming — in a 90-foot “infinity” lap pool that blends with the bay beyond.

Tired? There's also a home theater, barbecue area and private beach to relax on. The house has two living areas, too, one luxurious with Italian furniture and the other more casual.

Real estate broker Michael Saunders, who has seen her share of opulent rentals, calls the mansion “the nicest weekly rental I have ever seen in this market. It is spectacular.”

High expectations

But even this mansion leaves something to be desired.

Saunders finds it surprising that the house is neither on the beach nor has a chef, butler or maid.

“My recommendation would be to include staff,” the broker said. “Even if (the owners) had to increase the price. People who are spending $30,000 expect what they get in the Caribbean — a full house staff with chef and butler. They want to walk in carefree, white-glove, with every need anticipated. They don't want to need a week to figure out how to turn the lights on.”

Jon Gray, HomeAway's senior vice president for North America, counters that house staffs tend to be more common in island settings.

Saunders also finds it remarkable that the place can be rented short-term at all.

“We have had movie stars who wanted three weeks, and the owner has demanded a three-month rental,” she said, adding that if more beachfront homes were available for rent on a weekly basis, demand would fill them.

Even A-list movie stars, though, could not rent the place without filling out an extensive application.

“We do seriously choose our guests, and no information about the rental will be distributed without knowing precisely who is renting the home, their background, and the reason for the rental,” the site says.

Many owners rent to offset the costs of ownership, or to help generate income for future retirements, said Gray, the HomeAway vice president.

“More commonly, we are seeing what we call ‘rent your way to retirement.' Basically, someone purchasing the home and renting it out to cover expenses until it is time to move into it,” he said. “Often people want to sell but can't, so they rent it instead. And some spend a couple of weeks a year in it and they would rather have people use it.”

The homes are oftened offered as venues for weddings, parties or even corporate retreats.

Detailed application

Security is a “concern” when renting such expensive properties, but “it not really a major issue. Damage claims are rare, Gray said.

“We train the owners how to interview the guests,” he said. “They may ask for a security deposit. HomeAway also offers property damage protection to take the place of a security deposit.”

On the Sarasota property's HomeAway page, the owner asks the rental applicants' occupation, income, reason for rental (wedding, fundraiser) and number of guests.

Saunders agrees that the selection process usually prevents issues.

“We find our owners are really discerning,” she said. adding one of her agents recently rented a $15,000-a-month property on a barrier island.

“She had many conversations with the renters,” Saunders said of her agent. “She learned their grandkids' names, and we keep a 25 percent damage deposit until we are satisfied no damage has been done.”

Most owners who use the HomeAway are 45-55 years old, and are mainly offering vacation homes or properties they have purchased as investments, Gray said.

The site has more than 416,000 listings worldwide, with owners paying $349 per year to feature their properties.

“For most owners, one rental covers the cost of advertising with us,” Gray said, adding that the average listing rents for $1,459 per week, or $208 per night, and generates about $27,000 each year in rental income. Eighteen weeks is the average total rental time.

Emerging trend

The $4,500 in Sarasota is “quite staggering,” said HomeAway's Adam Annen.

“We only experience that kind of pricing with a few estates, sometimes if there is a large-scale event in an area,” Annen said.

He noted that homes in Austin, Texas, rented for $10,000 to $15,000 per night when recent Formula 1 races were held there.

That pales in comparison to high-end rentals in cosmopolitan sections of New York or San Francisco.

A Beax-Arts townhouse in Manhattan's Upper East Side goes for $90,000 per week or $285,000 per month — and it only sleeps 18.

In Malibu, Calif., one HomeAway beachfront estate sleeps 14 and rents for $2,500 per night, or $70,000 per month.

“In the Hamptons, you would pay $150,000 a month,” Saunders said.

Back in Florida, one HomeAway Mediterranean mansion in Miami rents for up to $11,000 per night or $144,000 for a month.

Not every mansion for rent costs as much, of course.

More than 100 local homes are listed on HomeAway's site, though none are as expensive — or expansive — as the Gagliardi home.

HomeAway is hardly the only online website hoping to capitalize on the emerging trend of luxury vacation rentals, either.

FlipKey.com offers a similar service, with properties that can sleep 10 people renting for up to $500 per night. VacationRentals.com is in the same business, too.

Then there is 3rdHome.com, a private club for luxury second-home owners that lets them use each other's homes around the world without having to pay rent, for a fee.

“I have seen these for ski trips, where people stay in a really nice chalet and split the cost,” said HomeAway's Gray. “On the travelers' side, it makes a ton of sense, instead of staying in a cramped hotel room, to get a place like this and share the cost over a number of people.”

<p><em>SARASOTA</em> - If you've ever wanted to spend the night in a waterfront mansion, now's your chance.</p><p>And at $187.50 per night, the price is less than that of a typical luxury hotel.</p><p>The only catch: You'll have to find 23 others willing to bunk with you — each paying their own $187.50.</p><p>That's because the rental cost is $4,500 a night, with a minimum stay of seven nights.</p><p>Promoter HomeAway promises that the 12,000-square-foot mansion, hidden behind gates at the end of a narrow street on Sarasota's north bayshore, is worth every penny of that $31,500 per week.</p><p>HomeAway's website says the house sleeps as many as 24, thanks to its nine bedrooms, eight full bathrooms — one outdoors — and two half-bathrooms. </p><p>On the website, the owners explain that while the Indian Beach house is their main residence, they want to share it with others who will appreciate it.</p><p>“It was built from the ground-up specifically for us to reunite our big family and friends, who are very special to us,” the site says. “Living here is living with your feet in the water in the most beautiful 'mini' private resort.”</p><p>Mansion owners Innocenzo and Anne Gagliardi did not respond to requests to discuss their rent-a-manse.</p><p>Though the Gagliardis are not the only luxury home owners in Southwest Florida to offer their mansions for rent, their home raises the proverbial bar for those hoping to experience an opulence available to but a few — if even for a limited time.</p><p>Out-of-towners needn't worry about rounding up taxis to get to the mansion from the airport, either, thanks to the house's rooftop helicopter pad.</p><p>The modernist house is close enough to downtown to ride a bike to, and but a 10-minute drive to St. Armands Circle and Lido Beach.</p><p>But why leave? The grounds offer kayaking, fishing, a hot tub and swimming — in a 90-foot “infinity” lap pool that blends with the bay beyond.</p><p>For the less aquatic, there's a miniature soccer field, volleyball court, tennis court, basketball half-court, putting green, fitness center and billiard table.</p><p>Tired? There's also a home theater, barbecue area and private beach to relax on. The house has two living areas, too, one luxurious with Italian furniture and the other more casual.</p><p>Real estate broker Michael Saunders, who has seen her share of opulent rentals, calls the mansion “the nicest weekly rental I have ever seen in this market. It is spectacular.” </p><p><b>High expectations</b></p><p>But even this mansion leaves something to be desired.</p><p>Saunders finds it surprising that the house is neither on the beach nor has a chef, butler or maid.</p><p>“My recommendation would be to include staff,” the broker said. “Even if (the owners) had to increase the price. People who are spending $30,000 expect what they get in the Caribbean — a full house staff with chef and butler. They want to walk in carefree, white-glove, with every need anticipated. They don't want to need a week to figure out how to turn the lights on.”</p><p>Jon Gray, HomeAway's senior vice president for North America, counters that house staffs tend to be more common in island settings.</p><p>Saunders also finds it remarkable that the place can be rented short-term at all.</p><p>“We have had movie stars who wanted three weeks, and the owner has demanded a three-month rental,” she said, adding that if more beachfront homes were available for rent on a weekly basis, demand would fill them.</p><p>Even A-list movie stars, though, could not rent the place without filling out an extensive application.</p><p>“We do seriously choose our guests, and no information about the rental will be distributed without knowing precisely who is renting the home, their background, and the reason for the rental,” the site says.</p><p>Many owners rent to offset the costs of ownership, or to help generate income for future retirements, said Gray, the HomeAway vice president.</p><p>“More commonly, we are seeing what we call 'rent your way to retirement.' Basically, someone purchasing the home and renting it out to cover expenses until it is time to move into it,” he said. “Often people want to sell but can't, so they rent it instead. And some spend a couple of weeks a year in it and they would rather have people use it.”</p><p>The homes are oftened offered as venues for weddings, parties or even corporate retreats.</p><p><b>Detailed application</b></p><p>Security is a “concern” when renting such expensive properties, but “it not really a major issue. Damage claims are rare, Gray said.</p><p>“We train the owners how to interview the guests,” he said. “They may ask for a security deposit. HomeAway also offers property damage protection to take the place of a security deposit.”</p><p>On the Sarasota property's HomeAway page, the owner asks the rental applicants' occupation, income, reason for rental (wedding, fundraiser) and number of guests.</p><p>Saunders agrees that the selection process usually prevents issues.</p><p>“We find our owners are really discerning,” she said. adding one of her agents recently rented a $15,000-a-month property on a barrier island.</p><p>“She had many conversations with the renters,” Saunders said of her agent. “She learned their grandkids' names, and we keep a 25 percent damage deposit until we are satisfied no damage has been done.”</p><p>Most owners who use the HomeAway are 45-55 years old, and are mainly offering vacation homes or properties they have purchased as investments, Gray said.</p><p>The site has more than 416,000 listings worldwide, with owners paying $349 per year to feature their properties.</p><p>“For most owners, one rental covers the cost of advertising with us,” Gray said, adding that the average listing rents for $1,459 per week, or $208 per night, and generates about $27,000 each year in rental income. Eighteen weeks is the average total rental time.</p><p><b>Emerging trend</b></p><p>The $4,500 in Sarasota is “quite staggering,” said HomeAway's Adam Annen.</p><p>“We only experience that kind of pricing with a few estates, sometimes if there is a large-scale event in an area,” Annen said.</p><p>He noted that homes in Austin, Texas, rented for $10,000 to $15,000 per night when recent Formula 1 races were held there.</p><p>That pales in comparison to high-end rentals in cosmopolitan sections of New York or San Francisco.</p><p>A Beax-Arts townhouse in Manhattan's Upper East Side goes for $90,000 per week or $285,000 per month — and it only sleeps 18.</p><p>In Malibu, Calif., one HomeAway beachfront estate sleeps 14 and rents for $2,500 per night, or $70,000 per month.</p><p>“In the Hamptons, you would pay $150,000 a month,” Saunders said.</p><p>Back in Florida, one HomeAway Mediterranean mansion in Miami rents for up to $11,000 per night or $144,000 for a month.</p><p>Not every mansion for rent costs as much, of course.</p><p>More than 100 local homes are listed on HomeAway's site, though none are as expensive — or expansive — as the Gagliardi home.</p><p>HomeAway is hardly the only online website hoping to capitalize on the emerging trend of luxury vacation rentals, either.</p><p>FlipKey.com offers a similar service, with properties that can sleep 10 people renting for up to $500 per night. VacationRentals.com is in the same business, too. </p><p>Then there is 3rdHome.com, a private club for luxury second-home owners that lets them use each other's homes around the world without having to pay rent, for a fee.</p><p>“I have seen these for ski trips, where people stay in a really nice chalet and split the cost,” said HomeAway's Gray. “On the travelers' side, it makes a ton of sense, instead of staying in a cramped hotel room, to get a place like this and share the cost over a number of people.”</p>